Reverse Mortgages

Home Equity Conversion Mortgage, (HECM), or Reverse Mortgage was designed to allow seniors (62+) to purchase a new residence which enables senior homeowners to relocate to other geographical areas to be closer to family, downsize to homes that meet their physical needs and into areas where ther is no outside work required.

Program Details

Both borrowers must be at least 62 years of age

No monthly payments

One close transaction

Property can be a 1 to 4 unit principal residence

Must have funds to makeup the difference between sales price and reverse mortgage proceeds

Gifted funds are allowed

Must occupy the property within 60 days

Any home repairs must be completed by the seller prior to closing

About

Universal Lending Corporation was founded over 30 years ago on the principle that our customers deserve individual and specialized attention throughout the mortgage process. This is why we have one of the highest rates of repeat borrowers in the business.
Our mortgage professionals embrace our passion for customer care, and educate and empower each potential home buyer throughout the entire process, so they make informed, considerate decisions that ensure their home mortgages fit their budgets
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